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Suominen changes its financial reporting terminology in accordance with the recommendation by European Securities and Markets Authority

Helsinki, Finland, 2016-06-29 09:00 CEST (GLOBE NEWSWIRE) -- Suominen Corporation   Stock Exchange Release   29 June 2016 at 10:00 am (EEST)

Suominen changes its financial reporting terminology in accordance with the recommendation by European Securities and Markets Authority

European Securities and Markets Authority, ESMA has disclosed new guidelines concerning alternative performance measures. The guidelines are effective as of 3 July 2016 and Suominen Corporation will change the terminology related with the alternative performance measures as of its Q2 interim report, to be disclosed on 9 August 2016.

In accordance with the new guidelines, Suominen changes the term ”excluding non-recurring items” to ”comparable”. Comparable performance measures are adjusted with certain material items that are considered to affect comparability between reporting periods. These items include, among others, impairment losses or reversals of impairment losses, gains or losses from the sales of property, plant and equipment or intangible assets or other assets and restructuring costs. The definition of the items affecting comparability equals with the definition of non-recurring items used earlier.

Suominen Corporation
Nina Kopola, President & CEO

For further information, please contact Mr. Tapio Engström, CFO, tel. +358 10 214 300

Suominen in brief

Suominen manufactures nonwovens as roll goods for wipes as well as for medical and hygiene products. The end products made of Suominen’s nonwovens – wet wipes, feminine care products and swabs, for instance – bring added value to the daily life of consumers worldwide. Suominen is the global market leader in nonwovens for wipes and employs over 600 people in Europe and in the Americas. Suominen’s net sales in 2015 amounted to EUR 444.0 million and operating profit excluding non-recurring items to EUR 31.2 million. The Suominen share (SUY1V) is listed in Nasdaq Helsinki Stock Exchange (Mid Cap). Read more at www.suominen.fi.

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www.suominen.fi